LO2

Question 1

Information Styles

Answer 1

1. Text
2. Graphic
3. Video
4. Animated Graphics
5. Numerical
6. Audio
7. Tactile Images
8. Subtitles
9. Tables and Spreadsheets
10. Boolean
11. Braile
12. Charts and Graphs

*You must be able to say one negative and one positive for using each type of style, use CSNEWBS or the text book to aid this.*

Question 2

Information Classfication

Answer 2

1. Sensitive (medical data, financial data)
2. Non-Sensitive (shop opening hours, business address)
3. Private (home address, banking details)
4. Public (data released to everyone, social media username, public business information, customer service number)
5. Personal (fullname, d.o.b)
6. Business (annual sales figures)
7. Confidential (doctor notes,business profit / losses)
8. Classified (highly sensitive, military precautions, crime scene reporting)
9. Annoymised / partially annoymised (e.g card number displayed as ****0099 would be partially anoymised)

Question 3

Quality of information

Answer 3

1. How can you judge information?
2. Can you tell if it is good/bad quality information?
3. What is the implications of bad quality information?

The quality of information that an organisation uses will have a significant impact on further processes and decisions.

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Good quality information that is accurate, valid or reliable can lead to better strategic decisions, meeting deadlines and innovation.

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Poor quality information that is biased, inaccurate or out of date may lead to negative consequences such as loss of customer trust, fines and legal challenges.

Question 4

Information Characteristics

Answer 4

Valid Information

• This is correct, up-to-date and complete information that fits its purpose. For example, detailed end-of-year financial data in the form of graphs.

Biased Information

• This is technically correct, but slanted, information that presents a one-sided view. For example, end-of year financial data that focuses on profits and ignores significant losses.

Relevant Information

• Information should be appropriate for the required purpose. Irrelevant information may get in the way of correct decision making.

Accurate Information

• Information should be carefully selected and entirely correct, inaccurate information can lead to unwanted consequences such as higher costs and missed deadlines.

Reliable Information

• Information from a source that can be verified and confirmed to be correct. For example, BBC News is a more reliable information source than social media posts.

Question 5

Positive Effects of Good Quality Information

Answer 5

Examples:

• Reliable information received by the management team.
• Good quality research information.
• Good quality sales information.
• Accurate cost projection information.
• Informed decisions with a higher chance of success.
• Can lead to innovation and better understanding.
• Strategic decisions and planning ahead.
• Projects will stay within their budget.
• Accurate time expectations.
• Projects will be completed on time.

Question 6

Negative Effects of Poor Quality Information

Answer 6

• Biased survey with inaccurate results.
• Inaccurate stock information.
• Out of date information received by management.
• Inaccurate data has led to poor reviews online.
• Inaccurate time expectations.
• Misinformed decisions, not responding to customers needs.
• Inaccurate delivery times, customers unhappy. Too much / little stock.
• Miss out on opportunities, possible fall in profits.
• Loss of customer trust, loss of customers and reputation. Financial issues.
• Projects take longer, cost more, stakeholders unhappy. Possible project failure.
  *

Question 7

Management Information System (MIS)

Answer 7

An MIS is used to collect, store, analyse and present data for an organisation.

The system processes a large amount of data and organises it (such as in databases) so that it can be used for decision making and general data analysis.

An efficient MIS can be used to display the financial status of an organisation, highlight areas of improvement and generate sales forecasts based on current data.

Specifically, a bank could use an MIS for:

• Looking at the number of customers that visit each branch.
• Forecasting takings based on historical data.
• Profiling customers.
• Identifying customers who haven’t saved recently to target them for email.

Question 8

Benefits of an MIS

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Answer 8

• Integrated system:
  
  • ​A Management Information System shares a large amount of data from multiple departments within an organisation to produce accurate reports. For example, financial data can be used to generate accurate pay slips.
• Decision Making:
  
  • An MIS can be used to inform an organisation’s decision making by highlighting areas that need improvement within the company.
• Powerful analysis:
  
  • ​An MIS will use large data sets to provide accurate data analysis that can be used in many different ways by an organisation. Trends and patterns can be identified easily.
• Backup capabilities:
  
  • ​Data can be stored centrally and backed up easily if a disaster occurs.

Question 9

Limitations of an MIS

Answer 9

• Cost and installation:
  
  • ​An MIS is an expensive tool that needs to be professionally set up and requires technical knowledge to maintain.
• Requires accurate data:
  
  • ​If any data is incorrect or out of date then the analysis will consequently be inaccurate. Potentially disastrous decisions could be made as a result of incorrect data.
• Training:
  
  • Employees will need to be trained to use the software accurately for maximum efficiency.

Question 10

Managing Information:Data Collection

Answer 10

Information can be collected in different ways e.g. paper forms, surveys, stock taking and data capture forms in databases.

Question 11

Managing Information: Storage

Answer 11

Collected data must be stored in a secure and easily-retrievable medium. This could be paper, magnetic, optical and cloud storage. Data is most conveniently stored in a database so that information can be added, removed or updated when necessary.

Data must be stored securely to ensure it is protected against loss, accidental or via hacking / corruption. Sensitive data should be encrypted so that others cannot view / alter it without authorised access. Information should also be backed up in case the data is lost.

Question 12

Managing Information: Retrieval

Answer 12

Using a database to store information allows users to easily access data so that it can be updated or removed.

Searches and queries can be easily performed on all tables in a database to show specific values using certain criteria.

Question 13

Managing Information: Manipulating & Processing

Answer 13

After collection and storage, data must be processed so that it is ready for the final stage: analysis. Data can be exported to other software, such as from a database and into a spreadsheet so that it can be manipulated, sorted and visualised. Graphs and charts can be created on data in a spreadsheet so that patterns and trends are easier to identify.

Question 14

Managing Information:Analysis

Answer 14

To analyse the data is to see what can be learned from it, so important decisions can be made.

Example: Analysing the charts made in the processing stage will allow the tennis club to identify key patterns. For example, they could see when most members sign up during the year and where the members travel in from